Nirmal Bang expects less downside in Gold, Silver
Nirmal Bang has come out with its report on Gold and Silver. According to the research firm, precious metals prices are trading little changed on COMEX today. Do not expect any major fall in the prices of bullions on account of the existing loose monetary policy from the US Fed and the BOJ.
April 10, 2013 / 12:53 IST
Nirmal Bang has come out with its report on Gold and Silver. According to the research firm, precious metals prices are trading little changed on COMEX today. Do not expect any major fall in the prices of bullions on account of the existing loose monetary policy from the US Fed and the BOJ.
Precious metals prices rose yesterday as volatility in the currency market triggered by Japan's aggressive monetary easing plan lifted bullion's appeal as a hedge against inflation and currency fluctuations. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange traded fund, stood at 1200.37 tonnes by Apr 08, down by 4.94 tonnes from the previous business day. Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 10497.59 tonnes by Apr 08, remains unchanged from the previous business day. Indian gold futures traded steady on Tuesday in line with global markets, with traders looking for bargains as weddings and festivals neared. Hong Kong's net gold flow to mainland China rebounded last month from threemonth lows in January, reflecting increased demand ahead of the Lunar New Year holiday and as buyers took advantage of weaker prices, data showed on Tuesday. Fundamental outlook: Precious metals prices are trading little changed n COMEX today. We do not expect any major fall in the prices of bullions on account of the existing loose monetary policy from the US Fed and the BOJ. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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